Eagle Funds Managers

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Now sitting at number 6

Big day today for the British Pound

The Bank of England's rate decision and monetary policy report comes out on in 2 Hours and 15 minutes.

We have seen more hawkish speeches from Bailey in the past few weeks given the fact that inflation has risen above the BOE's 2% target. Analysts see inflation averaging 4% with potential to rise up to 5% in 2022 should the BOE keep rates and its asset purchasing program unchanged.

Money markets are split on whether we will see a rate hike today or in December and a 15bps hike could be already priced in. A real hawkish surprise from today's decision is really not forecasted since the BOE's language has been so hawkish in the past few weeks.

The BOE could be the first major Central Bank to hike rates since the Pandemic hit the markets.